- Users of the Brave browser will be able to redeem their BAT tokens for gift cards
- Brave says its gift cards will be supported by 250k companies including Amazon, Uber and Apple
- Brave browser is steadily gaining traction globally
Brave (BAT) browser, the privacy-centric cryptocurrency-powered web browser has revealed new details about its gift card rewards programme in collaboration with TAP Network, a decentralised rewards network.
Enable ads, cash out gift cards
Per sources close to the matter, users of the much talked about browser will not be able to redeem their BAT tokens for cash. Instead, Brave is collaborating with the TAP Network to unveil a gift rewards system to enable Brave users to buy gift cards and credits with their tokens or donate to a vast array of charity organisations and more.
To be sure, some users would have preferred to redeem their BAT tokens for cash or convert it to other cryptos. However, the team has explicitly stated that BAT tokens are purely utility tokens not substitutes for fiat money:
“You cannot transfer BAT out of your Brave wallet. The Brave BAT wallet is unidirectional, and its primary purpose at present is to anonymously and securely contribute to publishers of websites your choice.”
Although the gift card redemption system has yet to go live, the team has made it clear that the feature will be implemented this year.
Real time value tracking
Reportedly, the team has said that the gift cards redemption process will not be adversely affected by price fluctuations of the BAT token and the prices of all items in the rewards catalogue will be updated in real-time to show the exact number of BAT needed for redemption.
While users of browser will only be able to earn up to $70 annually, the team notes that users can add additional funds to their BAT wallet balances or convert their bitcoin (BTC) litecoin (LTC) and ether (ETH) to BAT for larger redemption offers like hotel reservations and more.
Brave Browser steadily gaining traction
Though the browser still has much work to do before becoming the number one web browser globally, it’s worth noting that the team is hard at work trying to make the browser better and that hard work is gradually yielding results.
On March 22, 2019, Blockchain Reporter informed that Brave Browser now controls more Android market share than Opera and Puffin web browsers.